National Bank of Canada FI Acquires 69,566 Shares of ServiceNow, Inc. (NYSE:NOW)

National Bank of Canada FI increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 78.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 158,581 shares of the information technology services provider’s stock after purchasing an additional 69,566 shares during the period. National Bank of Canada FI owned approximately 0.08% of ServiceNow worth $125,124,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after purchasing an additional 331,797 shares in the last quarter. Norges Bank bought a new stake in shares of ServiceNow in the 4th quarter valued at about $1,648,259,000. Massachusetts Financial Services Co. MA raised its holdings in ServiceNow by 3.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock worth $1,612,032,000 after purchasing an additional 81,028 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in ServiceNow by 18.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock worth $1,239,198,000 after acquiring an additional 271,153 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of ServiceNow by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock worth $1,203,157,000 after purchasing an additional 34,855 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the transaction, the chief financial officer now directly owns 11,490 shares in the company, valued at $9,479,250. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock valued at $5,608,936 over the last ninety days. 0.25% of the stock is owned by company insiders.

ServiceNow Stock Down 0.6 %

Shares of NOW traded down $4.85 during midday trading on Thursday, reaching $829.98. 226,743 shares of the stock were exchanged, compared to its average volume of 1,284,284. The company has a market capitalization of $170.15 billion, a P/E ratio of 89.29, a PEG ratio of 5.13 and a beta of 0.99. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $863.85. The company’s 50 day moving average is $797.34 and its two-hundred day moving average is $761.85.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the prior year, the business earned $0.77 EPS. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Analyst Ratings Changes

NOW has been the subject of several research reports. Canaccord Genuity Group reissued a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a research report on Tuesday, July 23rd. TD Cowen upped their price target on ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Needham & Company LLC reissued a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price target on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Robert W. Baird upped their target price on shares of ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $849.62.

ServiceNow Company Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.